What are your marketing goals for 2024?
Bonjour, Hello,
Welcome back to our marketing journey! In today’s edition, we’ll be discussing key marketing goals you can consider for 2024. By setting these goals, you can work towards growing your business and achieving success in the year ahead.
TLDR (key takeaways):
- If your focus is on Brand Awareness, it indicates a desire to enhance your brand recognition.
- If you prioritize lead generation, it means you aim to attract potential customers.
- Retention involves keeping existing customers engaged and satisfied.
- Conversion entails successfully converting interested prospects into paying customers.
- Referrals aim to encourage word-of-mouth recommendations.
- Reflection question: What are the 2 key marketing objectives you want to achieve in 2024, and how do they align with your overall business goals?
Where are you heading with your marketing in 2024?
I understand that it might be challenging to come up with specific marketing objectives for the year. That’s why we’ll delve into five main marketing objectives that all companies can relate to. Hopefully, this will help you decide which areas to focus your efforts on. Without further ado, let’s get started!
Brand Awareness: Your goal is to build brand familiarity and increase the number of people who recognize and remember your brand. When focusing on brand awareness, your aim is to expand your audience size and reach.
For example, let’s consider that you have recently launched your own self-love journal.
To measure brand awareness, you can track metrics such as:
- The amount of traffic to your website
- The number of followers on social media platforms
- The frequency of brand mentions in the media
Lead Generation: Your goal is to attract potential customers and capture their interest in your product or service.
For instance, let’s imagine you are a revenue manager freelancer for the hospitality industry.
To measure lead generation, you can monitor metrics such as:
- The number of signs-up for your newsletter or downloads of your lead magnet (e.g., free e-book, free template)
- The number of people booking a discovery call
Retention: Your goal is to keep existing customers engaged and satisfied, encouraging them to continue doing business with you. This can be achieved by focusing on enhancing the overall customer experience, providing personalized recommendations, and offering loyalty rewards.
For example, let’s say you are a dance instructor who organizes several dance classes per week.
To measure customer retention, you can consider metrics such as:
- Number of one-time class purchases versus the number of 10-class passes sold
- Frequency of a customer’s attendance (e.g., from once a week to twice a week)
Conversion: Your goal is to successfully convert your qualified leads, who are interested prospects, into paying customers.
For example, let’s say you are a business coach with an annual membership offer.
To measure conversion, you can look at metrics such as:
- The number of free trial users who become paid subscribers.
- The number of individuals who purchase your membership after attending an exclusive workshop that you deliver to your database.
Referrals: Your goal is to encourage your satisfied existing customers to spread positive word-of-mouth and recommend your brand to others. In other words your existing customers become your brand ambassadors and they are rewarded for it.
For example, let’s consider that you are a product-based company and have implemented a referral program offering a 10% discount for both the referrer and the referred customer.
To measure the effectiveness of your referral program, you can track metrics such as the number of purchases made using referral codes.
By identifying your key marketing goals and setting SMART objectives, you can assess and enhance your marketing efforts for the upcoming year.
SMART stands for specific, measurable, achievable, relevant, and time-bound.
That’s a wrap for today! Got queries or thoughts? Reach me at hello@jconsulting.solutions.